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broker for news trader?

  • #1
  • First Post: Edited 2:08am Sep 11, 2006 12:31am | Edited 2:08am
I found easy-forex.com; called them up and talked with them for a long duration. The bottom line, they guarantee fills, entry, stops and limit prices to the pip. THey guaratee 100% no slippage.

Problem is, they would require that the Entry Orders be at least 20 pips away from the market price.

There is no demo account; and if you want to test them out, pay $25 for the minimum entry account to try it.

The platform is totally webbased - not Java. But they have a special feature called "Price Freeze" wherein, you can freeze the price to decide whether you want to order or not... This price will be guaranteed regardless of the actual market price - ie, the market made a 20 pips up move, but your panel's price are frozen at the price of last update... freeze time is 5 seconds... Hmmm....

Interesting huh??? 20 pips straddle distance looks more like for NFP and CPI news to me... is it worth it? Anyone who have tried them, please do give us your experience. We all very much appreciate it.




PS. Forum admin, dont alienate this thread. Dont move this thread to the Broker section as this is for News traders only
  • #2
  • Sep 11, 2006 1:52am Sep 11, 2006 1:52am
Hi BK,

I started trading live with easy-forex.com -- With a very small account of $100. The problem with them is the spread. Normal spread on EUR/USD is 7pips!

When you have a mini-account with them, the spreads are crazy...And because of this, I decided to use NorthFinance instead.

Cheers,
Wally
  • #3
  • Sep 11, 2006 1:53am Sep 11, 2006 1:53am
Seems great but what about their spreads during the news? They told you that you have to test?
  • #4
  • Sep 11, 2006 2:06am Sep 11, 2006 2:06am
Quoting wallym
Hi BK,

I started trading live with easy-forex.com -- With a very small account of $100. The problem with them is the spread. Normal spread on EUR/USD is 7pips!

When you have a mini-account with them, the spreads are crazy...And because of this, I decided to use NorthFinance instead.

Cheers,
Wally
Can u tell me more about north finance please? I'm thinking about opening an account with them.

I only have a demo with them now. I just started testing them a few days ago. The first trade was the cad unemployment and I got filled perfectly. But then again it was just a demo.
  • #5
  • Edited 3:19am Sep 11, 2006 2:12am | Edited 3:19am
Quoting fxkingg
Can u tell me more about north finance please? I'm thinking about opening an account with them.

I only have a demo with them now. I just started testing them a few days ago. The first trade was the cad unemployment and I got filled perfectly. But then again it was just a demo.
NF is very nice to me; never a slippage. however, setting up the straddle EA is very difficult with them. Oftentimes, it takes more than 60 seconds to get it up - it apperars that NF disallows EA generated Entry Orders prior to news.

The problem I have with NF is that its very difficult to close an open position - even on non volatilte market conditions! and especially when the market is moving against you! Therefore, if you want to trade news with NF using straddle EA, make sure to set your TP very conservatively so it closes on its own...
  • #6
  • Sep 11, 2006 2:21am Sep 11, 2006 2:21am
Quoting BurgerKing


PS. Forum admin, dont alienate this thread. Dont move this thread to the Broker section as this is for News traders only
hahaha
  • #7
  • Sep 11, 2006 2:21am Sep 11, 2006 2:21am
Quoting BurgerKing
NF is very nice to me; never a slippage. however, setting up the straddle EA is very difficult with them. Oftentimes, it takes more than 60 seconds to get it up - it apperars that NF disallow acceptng EA generated Entry Orders prior to news.

The problem I have with NF is that its very difficult to close an open position - even on non volatilte market conditions! and especially when the market is moving against you! Therefore, if you want to trade news with NF using straddle EA, make sure to set your TP very conservatively so it closes on its own...
BurgerKing doesn't the -maximum deviation from price- thing help with this problem?
  • #8
  • Sep 11, 2006 3:19am Sep 11, 2006 3:19am
Quoting fxkingg
BurgerKing doesn't the -maximum deviation from price- thing help with this problem?
I have it at "3 pips deviation" and still does not close asap.

What must be the value? 5?, 10?
  • #9
  • Sep 11, 2006 5:10pm Sep 11, 2006 5:10pm
Hey BurgerKing I was looking over the easy-forex website and it sounds interesting. However the freeze feature that you mention does not seem to be useful during news or what they call "unusual conditions". This is what their site says about the feature on their questions page:

"Please note that guaranteeing the rate per such feature is available during regular market activity only. Under unusual conditions, this feature will not be guaranteed."


Also did you ask them if they offer instant fills during all market conditions??


Thanks for pointing out this broker to the forum.
  • #10
  • Sep 11, 2006 5:17pm Sep 11, 2006 5:17pm
Quoting BurgerKing
PS. Forum admin, dont alienate this thread. Dont move this thread to the Broker section as this is for News traders only
ok we will leave it here for a while, but when the discussion has died down its gotta get moved to the Borker Forum. broker discussions bring down the quality of the forum so we have to isolate them...sorry.

and as for easy-forex, dont believe everything you hear. i have experience with them and it was not pleasant.

btw, did you get my email BK?
Relax and be happy.
  • #11
  • Sep 11, 2006 6:02pm Sep 11, 2006 6:02pm
the one thing I worry about with NF is if it is possible to withdraw your money. I read someone posting on another site (the site that likes to use the "scam" rating label) that he can't withdraw his $50k.

does anyone know of anyone else that has had problems withdrawing that kind of money? I assume people can withdraw smaller amounts no problem, since I haven't read any other posts complaining about withdrawals.
  • #12
  • Sep 11, 2006 7:23pm Sep 11, 2006 7:23pm
I have read all the posts and they all sound interesting. Is there any one out there who has used FXsol for news trading? They told me they allow straddling but no guarateed fill......Just being curios! I'd appreciate any response
  • #13
  • Sep 12, 2006 3:59am Sep 12, 2006 3:59am
Quoting small pips
I have read all the posts and they all sound interesting. Is there any one out there who has used FXsol for news trading? They told me they allow straddling but no guarateed fill......Just being curios! I'd appreciate any response

I spoke with them, 3 times. They don't guarantee anything during news, "We'll fill you in at the next best price if your position order is skipped".
Well, they they say we "try to guarantee" fills.

That's typical bucketshop bs, also.

Like other brokers, they say "our spreads" are fixed nomatter the conditions. Well, it's contradictory, because. They've admitted after avoiding the answer serveral times. That spreads do widen under "unsual economic" situations, like disasters, which is bs. A fall in price IS A disaster for the opposite pair, this happens all the time on buys and sells.

So, they are full of s*** too.

Now, most brokers also tell you that there is NO limit what so ever on the small amounts of leverage used on minis. Bullsh**. Just ask them what's their "minimum limit of leverage allowed on their mini accounts. The max i don't care about, that's too extreme, ask them. "What's you minimum risk" leverag offered evenly at $250 on a mini account.

They bs you and ask you to trade higher funds, or to minimum risk at $5.00 per pip leverage. Whynot $1.00 per move?
  • #14
  • Edited 4:22am Sep 12, 2006 4:12am | Edited 4:22am
EUR/USD and USD/JPY are 5 pip spread. Are they nuts?

They aren't even in the USA. They are in Cyprus.

You can't even check out the operation like you can with companies in the US who are members of CFTC/NFA
  • #15
  • Sep 12, 2006 4:12am Sep 12, 2006 4:12am
Quoting wallym
spread on EUR/USD is 7pips
Why don't they tie a knot around my neck, turn me upside down and yank all of my money out of my pockets before i do even decide to enter a position.
I dare ask, what is the max leverage like if their spread on the EUR/USD is that insane?
  • #16
  • Sep 12, 2006 4:14am Sep 12, 2006 4:14am
Apparently, the spreads lower if you have a standard (read: huge) account OR if you apply to be an IB...if I'm not mistaken...
  • #17
  • Sep 12, 2006 4:16am Sep 12, 2006 4:16am
Well, because that would just hang you and then you would not be able to trade anymore and come up with anymore money, because you would be dead.. Better to tie the rope around your feet and shake the money out while you are upside down...

LOL, Scott


Quoting Klaka
Why don't they tie a knot around my neck, turn me upside down and yank all of my money out of my pockets before i do even decide to enter a position.
I dare ask, what is the max leverage like if their spread on the EUR/USD is that insane?
  • #18
  • Oct 11, 2007 12:14am Oct 11, 2007 12:14am
don't u think ur broker will try to kill ur account if u trade the news and win ???
  • #19
  • Last Post: Oct 11, 2007 4:04am Oct 11, 2007 4:04am
Yes they will IF you trading massive lots, so try to be under Radar and trade small lots.

Quoting Mike59
don't u think ur broker will try to kill ur account if u trade the news and win ???
Charting Markets into the Future...MǎҖ€¥.
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